400,000 Shares in Warner Bros. Discovery, Inc. $WBD Bought by Mackay Shields LLC

Key Points

• Mackay Shields LLC opened a new position in Warner Bros. Discovery (WBD), buying 400,000 shares in Q3 worth about $7.81 million.
• WBD is in an active takeover battle — Netflix may convert its offer to an all‑cash bid while Paramount/Skydance is pressing a competing $30/share all‑cash proposal and pursuing proxy fights and litigation, increasing execution and legal risk.
• WBD missed Q3 estimates (EPS -$0.06 vs. -$0.04 expected; revenue $9.05B vs. $9.17B) and insiders have been selling stock, notably CFO Gunnar Wiedenfels who sold ~242,994 shares, while institutional ownership sits around 59.95%.

Mackay Shields LLC bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 400,000 shares of the company's stock, valued at approximately $7,812,000.

Other large investors also recently modified their holdings of the company. JB Capital LLC lifted its holdings in shares of Warner Bros. Discovery by 4.2% during the 3rd quarter. JB Capital LLC now owns 13,511 shares of the company's stock valued at $264,000 after purchasing an additional 547 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Warner Bros. Discovery by 1.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 46,314 shares of the company's stock valued at $905,000 after acquiring an additional 581 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in Warner Bros. Discovery by 2.9% in the 3rd quarter. Miracle Mile Advisors LLC now owns 22,654 shares of the company's stock worth $442,000 after purchasing an additional 632 shares during the period. TD Private Client Wealth LLC increased its holdings in Warner Bros. Discovery by 40.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,179 shares of the company's stock worth $43,000 after purchasing an additional 633 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Warner Bros. Discovery by 66.5% in the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company's stock valued at $33,000 after purchasing an additional 675 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 1.6%

Shares of Warner Bros. Discovery stock opened at $28.86 on Wednesday. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $30.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The business's 50 day moving average is $26.28 and its 200-day moving average is $19.10. The stock has a market cap of $71.51 billion, a P/E ratio of 151.90 and a beta of 1.56.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The firm had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same period last year, the company posted $0.05 earnings per share. The business's revenue was down 6.0% compared to the same quarter last year. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

More Warner Bros. Discovery News

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: Netflix is reportedly discussing converting its December cash‑and‑stock offer into an all‑cash bid for Warner’s studios and streaming assets — a move that would reduce execution risk for shareholders and make the transaction cleaner/clearer. Netflix Considers Shifting Deal For Warner Bros. To All Cash – Report
• Positive Sentiment: Paramount/Skydance has intensified its challenge — pushing a $30/share all‑cash alternative, saying it will nominate directors at WBD’s annual meeting and is actively soliciting shareholders. That escalation raises the odds of a competing bid or a higher final price. Paramount to nominate directors for election at Warner Bros Discovery, files lawsuit
• Neutral Sentiment: Warner Bros. Discovery has publicly downplayed Paramount’s tactics as “gimmicks” and is reportedly seeking a sweetened bid from Netflix, which keeps multiple strategic outcomes possible. This is a source of negotiation leverage but unclear near‑term impact. Warner Bros. Discovery mocks Paramount Skydance’s merger ‘gimmicks’ as it seeks sweetened bid: sources
• Neutral Sentiment: Industry commentary (e.g., media exec analysis) emphasizes broader regulatory, creative and consumer implications of who owns Warner — important context for longer‑term value but not an immediate price driver. Does it really matter who ends up owning Warner Bros.? Media exec Tom Rogers breaks it down
• Negative Sentiment: Paramount has filed lawsuits seeking detailed disclosure about the Netflix transaction and has accused WBD’s board of breaching fiduciary duties — litigation and proxy fights can delay closing, increase legal costs and create execution risk for the Netflix deal. Paramount Sues WBD For Details Around Sale, Plans Proxy Fight As It Escalates Battle To Derail Netflix Deal

Insider Activity

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lori C. Locke sold 4,122 shares of the company's stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the completion of the sale, the chief accounting officer owned 100,962 shares in the company, valued at $2,919,821.04. This represents a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 489,326 shares of company stock valued at $12,781,456 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a "buy" rating in a research report on Friday, November 7th. Singular Research raised Warner Bros. Discovery to a "moderate buy" rating in a research report on Wednesday, October 22nd. Cowen cut shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating in a research note on Tuesday, September 16th. KeyCorp reiterated a "sector weight" rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. Finally, Rothschild Redb upgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.85.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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